A new report from The Institute for College Access and Success shows the average 2011 graduate has $26,600 in student debt, news sources report.
The highest-debt state is New Hampshire. Students there graduated with an average of
$32,440 per student, Reuters reported.
Minnesota is the state with the third-greatest amount of student debt: $29,800, the Star Tribune reported. It is the only state in the top five that is not along the Northeast Corridor of the nation, Reuters reported. Approximately 71 percent of 2011 graduates from Minnesota's public and private nonprofit four-year universities had taken out student loans, the Pioneer Press reported.
Both the Minneapolis College of Art and Design and the College of St. Scholastica in Duluth made the list of "high-debt" colleges, the Star Tribune reported.
Part of the report also included recommendations for slowing the increase in student debt. These recommendations included expanding the availability of financial aid information and the federal government's ability to collect debt information from colleges, the Pioneer Press reported.
The lowest debt state is Utah, where students have an average of $17,227 in debt, Reuters reported.
The national student debt average is up five percent from $25,250 last year. Recent college graduates also have an unemployment rate of 8.8 percent, Reuters reported.